The week in pharma: action, reaction and insight – week to January 5, 2024
By Barbara Obstoj-Cardwell. Editor
M&A activity last week saw US pharma major Bristol Myers Squibb close 2023 by announcing the proposed $4.8 billion (plus $1 billion contingent) acquisition of Mirati Therapeutics, having just a few days earlier made a $14 billion bid for Karuna Therapeutics. US biotech Arrowhead Pharmaceuticals last week announced a $450 million common stock offer aimed at supporting its R&D program. Dutch biotech NewAmsterdam Pharma set out its priorities for 2024 in the development of cardiovascular medicines, notably obicetrapib. Research reported in Nature Medicines concluded there was no increased risk of suicidal ideation linked to Novo Nordisk’s GLP1R agonist semaglutide, sold as Ozempic for diabetes and Wegovy for weight control.
Bristol Myers to buy KRAS cancer drug developer Mirati for $4.8 billion
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